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Strategic Development of Deluxe Hotels Operating in Greece:The Effect of Joint Venturing on the Performance of Their Operation
Ioanna Giannoukou

Abstract
A joint venture is a common form of international expansion for hotel corporations. The purpose of this study is to
prove the efficiency of hotels in Greece that participate in joint ventures by comparing performances between
hotels in Greece that operates in joint ventures and hotels that are fully owned. The statistical analysis fails to
reject the null hypothesis meaning that there’s not much statistical difference between performance of hotels in
joint ventures and hotels not in joint ventures. Though joint ventures fail to show improved performance of a hotel
through financial ratios (ROCE, for instance), firms in the hospitality industry still have many reasons for going
into joint ventures.